Bill > A3606

Introduced Session

This bill updates the statute governing voting by shareholders for items other than for the election of members to the board of directors. Current law specifies that whenever any action, other than for the election of directors, is to be taken by vote of the shareholders, it is to be authorized by a majority of the votes cast at a meeting of shareholders by the holders of shares entitled to vote, unless a greater vote is required by the certificate of incorporation or another section of current law. Under the bill, it provides that a requirement that calls for an action to be authorized by a majority of the shareholders present or represented by proxy at the meeting and entitled to vote on the subject matter may be provided for in and authorized by the bylaws of the corporation.

AI Summary

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Lou Greenwald (D)*, 

Introduced, Referred to Assembly Financial Institutions and Insurance Committee (on 01/13/2026)

Official Document